Thursday, March 17, 2011

It's utter rubbish, says PM

Isa's appointment 'not hurting stocks'

Source: http://www.nst.com.my/nst/articles/14pmd/Article (16/3/2011)Prime Minister Datuk Seri Najib Razak yesterday described as baseless and irrelevant allegations of jitters in the stock market caused by the appointment of Tan Sri Mohd Isa Abdul Samad as Felda chairman. "It has no bearing on the share price movements," he said in a written reply in the Dewan Rakyat to a question from Lim Lip Eng (DAP-Segambut).Lim had asked the prime minister to give the rationale for appointing Isa as Felda chairman despite his credibility being allegedly affected when he was found to be involved in money politics by Umno, and whether the good name of Felda would be affected, thus causing jitters in the stock market.

Najib said Isa's appointment was based on his vast experience in administration, management, leadership and people relations. "His experience in administration, politics and community development meets the criteria for the appointment as Felda chairman, a post where he is directly involved in matters pertaining to the development of Felda and its settlers. "At the moment, none of the Felda subsidiaries are listed on the stock market." Nevertheless, he said, Felda's business partners in the country and overseas continue to support its business activities."The demand for Felda's primary commodity, for example palm oil, is strong and competitive in the international market." -- Bernama